The economy might be right to launch your own business

SPRINGFIELD, Mass. (WWLP) – The economy is improving, and consumers are starting to spend, the time might be right to start a small business.

Before you launch a business, you need experience, money, and an original plan. Topics the Massachusetts Small Business Development Center Network explored at a legislative roundtable discussion Friday morning. State Senators Eric Lesser and Stanley Rosenberg spoke at the event.

The MSBDC provides free business training to local residents. They focus on a variety of areas from business growth and strategies, to financing, loan assistance, and marketing analysis. Their funded by the U.S. Small Business Administration and the Massachusetts Office of Business Development, and run through the University of Massachusetts Amherst, Isenberg School of Management.

Dianne Fuller Doherty, the regional director of MSBDC told 22News she thinks the economy is just right to launch a business. “I think it’s a great time to start a business because the economy has gotten better, more and more people are understanding the importance and the value of small business,” she said.

Sean Ouimette is a former MSBDC financial consultant intern. He told 22News he hopes to someday start a business, but realized that requires a lot of experience first. “I think everybody needs a level of experience because if you’re going to open a business, you have to know the ins and outs of that business so you’re prepared to deal with any challenges you might face,” she said.

Earlier this week, Dun & Bradstreet, said businesses with fewer than 20 employees only have a 9% chance of surviving ten years.

UMass Amherst Isenberg School student Emma Tupp said she’s still optimistic the best ideas will make it. “It seems like a very good market now-a-days. People want to do something, they want to put themselves out there and do something that could turn out really great,” she said.